Future Imperfect: The HSBC Global Research Report

We are a funny people. We top the academic charts the world over while a large number of children in our backyards either die as infants or have to go to work as child labor before they can think of going to school. We are the leading destination for medical tourism, yet our public health system lies in tatters with basic healthcare a distant dream for the less privileged. We have the Mayawati's, the Mamata's and the Jayalalitha's yet we need a reservation bill for women and wake up to crimes against women every morning. We have embraced the true meaning of Islam, of Buddhism, of Hinduism and of Christianity, yet our vote banks are divided along religious grounds. We seem to be very pleased with ourselves as a nation without reflecting on the rot that we sweep under the carpet. Dr. Ramesh Grandhi, in this article, looks at issues facing us as the emerging superpower of the immediate future.

It has been long forecast that India would occupy one of the top five places in the world based on GDP. The HSBC Global research report bears this out, and yes it is indeed a matter of some pride that we will be in the third place by the year 2050 with just China and the US ahead of us. Newspapers are blaring the fact that our economy will be the third biggest, but if we go past the headlines, we see not a very rosy picture. Corrective measures are the need of the hour, but will our government which seems more intent on fighting Mamata and Anna have the political fortitude to address this long term issue? Plans will need to be made now and not a decade or so into the future.

Studying the figures I was reminded of an advertisement that had brought a smile to my face sometime ago�a kid comes running home declaring proudly��Mom, I came third in a race at school. The proud mother beams, but the canny father asks �How many students participated my boy?� The answer �Just three of us�. This time the kid wasn�t looking all that pleased with himself.

The report portrays a very similar picture, China will be on top with a GDP of 24.6 trillion dollars (trillion=1000 billion), the US will be second with 22.2 trillions and India is third but at a measly 8.2 trillions. If you look at the per capita figures, the comparison is so skewed that you will end up being dismayed. China�s per capita incomes are almost 4 times ours and America�s more than 11 times.

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